-Hidden bearish divergence (shown in pink)
-Likely to retrace back to the 0.618 fib (~$38K)
-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off.
-If the ~$38K level can't hold, I think we'll be headed back on down to the ~$31K area.
-Price may bump back up before the next major leg down, but don't get caught out by that.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.
-Likely to retrace back to the 0.618 fib (~$38K)
-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off.
-If the ~$38K level can't hold, I think we'll be headed back on down to the ~$31K area.
-Price may bump back up before the next major leg down, but don't get caught out by that.
Good luck, and have fun.
Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping.